The Standing Committee for Economic and Commercial Cooperation (COMCEC) approved Iran's proposal, titled 'Seaborne Trade and Shipping within the Framework of the Trade Preferential System among the Member States of the Organization of Islamic Cooperation (TPS-OIC)'.

This was announced on Wednesday by the deputy head of the Ports and Maritime Organization (PMO) of Iran for ports and economic affairs, Mohammad Ali Hassanzadeh, IRNA reported.

Established in 1981, the COMCEC is one of the specialized committees of the OIC, which has 57 member states.

Hassanzadeh said in 2017, 13 projects were approved by OIC member states and affiliated organizations, adding more than 30 member states have benefited from financing COMCEC projects.

He described the main goal of the projects is to maximize the institutional and human capacities of OIC member states, noting that the sixth call for project financing was issued in September 2018.

The COMCEC secretariat announced that the proposed project of PMO, as the representative of Iran's transportation sector and an active member of the Task Force on Transport and Communication Planning of COMCEC, was approved in January 2019.